Persimmon and Vistry see good demand but challenges

July 9, 2020
<p></p><p></p><p><span>Persimmon and Vistry Group have issued trading updates on their half year results, with both seeing good demand but completions notably down in the face of the pandemic.</span></p><p><span>During the six months to June 30 2020, Persimmon’s housing revenues fell <span><span>33% against the equivalent period last year to £1.10 billion, on legal completion volumes of 4,900 compared to 7,584 in 2019. </span></span></span></p><p><span><span><span>Average selling prices rose from £216,942 last year to £225,050, reflecting “resilient” selling prices.</span></span></span></p><p><span><span>In the six weeks since reopening its sales offices in England, the volume housebuilder’s weekly average net private sales reservation rate was around 30% higher than the same period last year, at </span></span><span>278 new homes.</span></p><p><span>It added that throughout lockdown, customer enquiries had remained <span>“healthy”, yielding a weekly average of around </span>177 gross private sales reservations from week 12 through to week 20</span>.</p><p><span>And since reopening its sites in England and Wales, Persimmon said its construction teams were achieving “normal” levels of production. Its work in progress position represents around 70% of the group's forward sales as of June 30 2020.</span></p><p><span>Also during the six months ending June 30 2020, Vistry Group </span><span>said that over the past ten weeks it had seen a week-on-week increase in sales rates, with the …

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